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Multiple Student Accounts (Halifax/Nationwide) Watch

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    I was considering to open a second student account and after a lot of researching through other threads, it seems to be quite common.

    After looking at Moneysavingexpert’s Compare section, it says that Halifax’s T&Cs state you cannot open a student account somewhere else but I’ve been reviewing it myself and couldn’t spot anything yet (http://static.halifax.co.uk/assets/p...ount-guide.pdf). Can anyone else find anything that explicitly says you cannot open another student account whilst at Halifax?

    In terms of Nationwide, Moneysavingexpert says that ‘T&Cs do not say that you cannot open a student account elsewhere’ but on the FlexStudent main page it says ‘You don't already have a student account with another provider (or agree to transfer it to Nationwide)’ under Features and Benefits > Are you eligible?. Would I be right in thinking that Nationwide hasn’t explicitly said that you aren’t allowed to open a second student account if you have an existing FlexStudent account?

    I know some of you might say ‘Most banks ask you to put your main income into the account’, surely that can just be done by a simple bank transfer of your maintenance loans between both accounts?
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    (Original post by tyats13)

    I know some of you might say ‘Most banks ask you to put your main income into the account’, surely that can just be done by a simple bank transfer of your maintenance loans between both accounts?
    The halifax one is in the contract that you sign with them when you make the account. I remember seeing it when I saw my student account...

    Okay...so how do you get around the fact that on your statement is says "Student Finance/SLC" That's what they're looking for...
    It'll soon get flagged up if you're the one transferring money rather than student finance paying directly into that account..
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    (Original post by tyats13)
    I was considering to open a second student account and after a lot of researching through other threads, it seems to be quite common.

    After looking at Moneysavingexpert’s Compare section, it says that Halifax’s T&Cs state you cannot open a student account somewhere else but I’ve been reviewing it myself and couldn’t spot anything yet (http://static.halifax.co.uk/assets/p...ount-guide.pdf). Can anyone else find anything that explicitly says you cannot open another student account whilst at Halifax?

    In terms of Nationwide, Moneysavingexpert says that ‘T&Cs do not say that you cannot open a student account elsewhere’ but on the FlexStudent main page it says ‘You don't already have a student account with another provider (or agree to transfer it to Nationwide)’ under Features and Benefits > Are you eligible?. Would I be right in thinking that Nationwide hasn’t explicitly said that you aren’t allowed to open a second student account if you have an existing FlexStudent account?

    I know some of you might say ‘Most banks ask you to put your main income into the account’, surely that can just be done by a simple bank transfer of your maintenance loans between both accounts?
    I will keep it short because I lost interest when I saw the ts and cs were 60 pages.So might have missed it.

    1. I cant see any restriction on opening an account provided you give them the correct information.
    2. It says in Halifax you can only have 1 student account, but I took that to be Halifax account and not with someone else.
    3. I dont think the £500 per quarter is limited to SLC as per above.
    4. Any overdraft is not guaranteed and subject to status so they will look at how you manage the account. Presumably you want it for the overdraft?
    5. I agree with your interpretation got Nationwide in they dont like to be second choice, but you can open another.

    Thats just my opinion from a quick scan.
 
 
 
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